International Government Debt Denominated in Local Currency: Recent Developments in Latin America

10 Pages Posted: 3 Jun 2012

Date Written: December 1, 2005

Abstract

Governments in Latin America have traditionally faced significant difficulties in issuing debt denominated in local currency in international markets. However, three countries in the region have recently issued this type of debt, perhaps signaling a permanent change in the manner in which Latin American borrowers tap international bond markets. Nonetheless, the degree to which issuing international debt in local currency complements the development of domestic debt markets remains to be seen.

JEL Classification: E440, F340, G150, H630, O160

Suggested Citation

Tovar, Camilo E., International Government Debt Denominated in Local Currency: Recent Developments in Latin America (December 1, 2005). BIS Quarterly Review, December 2005, Available at SSRN: https://ssrn.com/abstract=1645868

Camilo E. Tovar (Contact Author)

International Monetary Fund ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

HOME PAGE: http://blog-imfdirect.imf.org/bloggers/camilo-e-tovar/

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